Tex. Ins. Code § 425.055 · Subchapter B. STANDARD VALUATION LAW
SUPPORTING MEMORANDUM FOR ACTUARIAL OPINION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A memorandum shall be prepared to support each actuarial opinion required by Section 425.054 or 425.0545. The form and substance of each supporting memorandum must comply with the commissioner's rules for memorandums subject to Section 425.054, or the valuation manual for memorandums subject to Section 425.0545.
(b) The commissioner may engage an actuary or other financial specialist as defined by commissioner rule if:
(1) a life insurance company does not provide a supporting memorandum at the request of the commissioner in the time specified by rule; or
(2) the company provides a supporting memorandum, but the commissioner determines that the supporting memorandum does not meet the standards prescribed by rule or is otherwise unacceptable to the commissioner.
(c) The actuary or other financial specialist under Subsection (b) shall:
(1) review the actuarial opinion and the basis for the opinion; and
(2) prepare the supporting memorandum.
(d) A life insurance company is responsible for the expense of the actuary or other financial specialist under Subsection (b).
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 313 (S.B. 1654), Sec. 8, eff. September 1, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.425.htm
- Text hash
- sha256 62a8a4962b4280394570e50a55e54da29182737b59ae8370a734549342c6621c
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Insurance Code
- Tex. Ins. Code § 425.054ACTUARIAL OPINION OF RESERVES ISSUED BEFORE OPERATIVE DATE OF VALUATION MANUAL.Printed as Section 425.054 | Section 425.054 or 425.0545
- Tex. Ins. Code § 425.0545ACTUARIAL OPINION OF RESERVES AFTER OPERATIVE DATE OF VALUATION MANUAL.Printed as Section 425.054 or 425.0545 | Section 425.0545
Cited by 1 provision
Provisions in this library whose text cites Tex. Ins. Code § 425.055. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.